Saturday, 10 September 2016

Battle of the billionaires: Zara founder Amancio Ortega is now richer than Bill Gates

Forbes today announced that Zara founder, Amancio Ortega is now richer than Microsoft billionaire co-founder Bill Gates

At least he was, for two days.

The Spanish retail genius who started Zara, passed Bill Gates to become the richest man in the world on Wednesday and Thursday, before Gates reclaimed the title Friday morning.

Shares of Ortega’s business Inditex, parent company to Zara, Massimo Dutti and Pull&Bear, ticked up 2.5% Wednesday, boosting his personal fortune by $1.7 billion, then fell 2.8% by Friday. As of 10 a.m. Friday morning, Ortega was worth $77.8 billion, while Gates was worth an estimated $78.1 billion.

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